Accelerate water solutions in vulnerable communities
Many US water and sewer systems are beyond their life expectancy and the estimated replacement cost is $150 billion. There is a strong precedent for water system operators to rely on complex stacks of rate-payer, State and Federal funding to rebuild critical infrastructure. In the current enviro-political landscape, this mélange of government funding will fall short of what is needed to update and rebuild the infrastructure.
The application process and pathway to an award of government funding or low cost financing is time consuming and expensive. Many distressed communities fail to qualify because they can’t start the process. For small and rural utilities, there is little training or institutional flexibility to explore and adopt other approaches or sources. For this reason, many US communities fall into a funding/financing gap.
Corporate environmental, social, and governance (ESG) programs have historically focused on carbon mitigation. In the next few years, companies will face global business value losses nearing $425 billion due to water risks such as flooding, drought and declining water quality. This has sparked a corporate race to mitigate and manage these water security risks as well.
Water equity is attainable for communities and companies
Philanthropic capital can bridge funding and financing gaps
Water risk mitigation can accelerate the pathways to water equity